A corporation is a legal entity created under the laws of a state that has liabilities, benefits and protections that are separate and distinct from the personal assets of the individual owner(s) of the corporation. In most situations, a corporation is legally treated as if it were an actual person....
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If you are a lesbian, gay, bisexual or transgender individual and you don’t make estate planning decisions for yourself, the state will then make them for you. Don’t miss your opportunity to leave your legacy to the people and organizations you love and support....
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The right combination of asset protection strategies depends on your needs and many varying factors. If you live, work or own a business in Henderson, Nevada, then we have an office conveniently located near you....
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The right combination of asset protection strategies depends on your needs and many varying factors. If you live, work or own a business in Las Vegas, Nevada, then we have an office conveniently located near you. You can visit us during working hours or on your lunch break....
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Business entities, trusts, ownerships (e.g., joint, individual or corporate), on-shore or off-shore assets, the types and values of the assets, whether foreign taxes have been paid in relation to those assets, length of the holding period of the assets, and a number of other factors....
Continue readingThe person who establishes or creates a Trust is called the Settlor, Trustor, Donor, or Grantor. If a Settlor received benefit from the trust in any way, such as receiving distributions, retention of power to serve as a trustee or amend the trust, old trust law allowed for creditors to satisfy debts by using the assets within the trust....
Continue readingAfter September 11, 2001, the United States enacted regulations that required all holdings and offshore trusts for U.S. citizens or resident aliens to be reported to the Internal Revenue Service (IRS). Part of the reason off-shore trusts are used as part of an asset protection strategy is to keep assets protected from litigation in the United States court system....
Continue readingThe Internal Revenue Service (IRS) has defined a gift as “Any transfer to an individual, either directly or indirectly, where full consideration (measured in money or money's worth) is not received in return.” For the purposes of income and inheritance taxes, courts have defined gifts as “proceeds from a detached and disinterested generosity.”...
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When evaluating the best way to transfer wealth or to provide for heirs, many issues must be considered in order to ensure that the maximum estate value is transferred, while satisfying legal, tax, income, total cost and the desired timing of the asset transfer....
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